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Daily Highlights: 2.08.10

Submitted by Tyler Durden on 02/08/2010 09:28 -0400

Australia removes large-deposit guarantee amid signs of economic recovery.
Brazil poised for Latin America's first rate increase as growth picks up.
Corporate bond yield spreads widen the most since November: Credit Markets.
Euro, Asian stocks fall as G-7 fails to end concern over Greece, fiscal budgets.
G-7 governments risk 'muddled middle' with plan to spend now, save later.
Greenspan sees 'slow' recovery, would be 'very concerned' if stocks drop.
Japanese bank lending fell by the most in more than four years in January.
Japanese stocks drop on concern weaker euro will hurt earnings.
No job growth for small businesses in US inspires doubts over sustainable recovery.
AB Volvo reported a fifth consecutive quarterly net loss ($269.2M); scraps dividend.
Acer CEO sees Q1 notebook shipments down by under 10% on quarter.
Allegheny Energy's Q4 net rises from $16.2M to $109.3M on absence of hedging losses, lower taxes and higher utility returns.
American Axle posts Q4 profit of $48.6M on tax gain, higher margins. Revs slip 7.8%.
BAE resolves longstanding corruption allegations, pays almost $500M in settlements.
Corning Inc. expects telecommunications spending to see little pickup in 2010.
CVS's Dec. net income rises from $952M to $1.05B.
E*Trade to reduce commissions for stock and option trades to $9.99 from $12.99.
Emerson Electric sees its businesses growing sluggishly for at least the next five years in US, Europe and Japan.
Gazprom sees 2010 EBITDA up 20% YoY on rise in European demand for gas.
Huatai Securities to raise $2.5B in an IPO in Shanghai.
SAP AG CEO abruptly resigned on Sunday; co. to return to a dual-CEO structure.
Spain's Santander eyes 300 RBS branches, may float 25% of UK business.
Toyota said to recall Japan Prius hybrid cars this week on brake problem.
Tyson Foods, beats exp., posts Q1 profit of $160M; sales up 1.8% at $6.64B.
Xstrata full-year profit declines 41% to $2.77B on lower coal price.
YRC Worldwide posts Q4 pretax profit of $49.8M amide $194M in debt exchange gain. Revs fall 41% to $1.15B.

Earnings Calendar: ADCT, ANDE, ATML, CNA, CVS, ERTS, HAS, L, LNCR, OMI, WCN, WRB.

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Data provided by Egan-Jones Ratings and Analytics

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Mon, 02/08/2010 - 09:42 | 222013 Racer

Want a good laugh at the Tax Cheat's words?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDYv97KxyEtU

Mon, 02/08/2010 - 09:52 | 222019 Anonymous

Pretty amazing Alan Greenspan still gets paid for his opinion.

People paying Alan to speak: Why? I promise I'll be just as accurate and I'll do it for half.

Mon, 02/08/2010 - 09:58 | 222026 IKEA Is Swedish

"G-7 governments risk 'muddled middle' with plan to spend now, save later.."

Spend now and save later? How is this any different from the policies of deficit economics they've been practicing for the past 40 years that have gotten us where we are today? We now have high debt/GDP, high unemployment, and rapidly worsening finances as a result.

Japan 2.0 around the corner.

Mon, 02/08/2010 - 10:23 | 222054 Anonymous

why is greenspan worried about stocks dropping ? will that affect consumer confidence ? will people's buying habits changed because they the economy is bad again (when in reality it never got better) ?

Mon, 02/08/2010 - 11:05 | 222094 Assetman